Glass Jacobson Investment Advisors llc Sells 3,949 Shares of Chevron Corporation $CVX

Glass Jacobson Investment Advisors llc decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 91.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 375 shares of the oil and gas company’s stock after selling 3,949 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Chevron were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in Chevron in the first quarter valued at approximately $31,000. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Chevron during the 1st quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV raised its stake in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Scotiabank boosted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, Raymond James Financial restated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron Stock Down 0.6%

Chevron stock opened at $155.63 on Friday. The company’s 50-day moving average price is $156.04 and its two-hundred day moving average price is $148.46. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $268.92 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.